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Entrepreneurial spirit ‘high among UK workers’

A number of people from across the UK would take the opportunity to become their own boss by setting up a small business, according to a new report.

As many as 60 per cent of British workers would like to run their own firm, the research published by the Association of Chartered Certified Accountants (ACCA) suggests.

This passion for entrepreneurship is notably said to be strong among people aged between 25 and 34.

ACCA’s head of business advisory services Glenn Collins commented: “Small businesses are the lifeblood of the UK economy and it is wonderful to see that people have such a high regard for the role SMEs [small and medium-sized enterprises] play within the community.”

The organisation’s figures also suggest that many people believe small companies are a key part of the fabric of many towns and cities.

Business owners in Northern Ireland were recently advised by the country’s enterprise minister Arlene Foster to see what financial support is available to them during the economic downturn.

Drew Nesbitt, a solicitor specialising in Business Law at Wilson Nesbitt solicitors, added: “When setting up a new business it is important to know the legal implications of your actions and the risk you are running.

“It is important to create a business using the correct legal structure with employment contracts, terms of business and a proper tenancy if you are renting a building.”
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